- The Conference Board’s consumer confidence index dipped to 125.5 this month.
- Economists polled by Dow Jones expected the index to rise to 126.6.
- Tuesday’s data release is the latest pointing to weaker economic growth toward the end of the year.
- To be sure, expectations for the holiday shopping season are strong.
The biggest takeaway from the Consumer Sentiment report was employment.
The labor differential (jobs plentiful – hard to get) declined on a year over year basis.
This is perfectly in line with our internal leading employment index and the collapse in hours worked. pic.twitter.com/BhuDzKevGq
— Eric Basmajian (@EPBResearch) November 26, 2019
The Conference Board consumer confidence labor differential just turned negative YoY for the first time since Oct ‘12. More evidence suggesting slowdown is broader based than originally assumed. Trend looks set to continue if this chart has anything to say about it. pic.twitter.com/R9DijhZWYm
— Julien Bittel, CFA (@BittelJulien) November 26, 2019